Business & Finance
SeaBird looks to drive down costs further
Oslo-listed seismic player SeaBird has decided to reduce costs further and postpone capex until the market situation normalizes. The company said that immediate effects of the COVID-19 situation are operational. In particular, SeaBird said it is experiencing difficulties with crew changes for existi
Hornbeck Offshore enters into restructuring agreement with lenders
U.S. offshore vessel operator Hornbeck Offshore has entered into a restructuring support agreement for comprehensive balance sheet restructuring.
RIDG bolsters team ahead of ScotWind
Edinburgh-headquartered Renewable Infrastructure Development Group (RIDG) has expanded its team with two hires in preparation for the ScotWind offshore wind seabed leasing round in Scotland. Isla Robb will lead on RIDG’s Supply Chain and Skills as an Associate Director, working to ensure that the RI
Spirit taps Three60 for modification and repair services in UK
Energy services group Three60 Energy has won a framework contract to deliver engineering and support services for minor modification and repair services on Spirit Energy’s UKCS assets.
Clir clears 1 GW offshore wind mark
Clir Renewables has optimized the performance of more than 1 GW of offshore wind assets in Europe by the end of the first quarter of 2020. According to Clir Renewables, this milestone follows 2019’s mammoth year of offshore wind construction, with 3 GW installed in Europe alone. The company explains
Bristow and Era one step closer to closing merger after clearing antitrust hurdle
Offshore helicopter operator Bristow and its peer Era Group are one step closer to closing their previously announced merger after clearing an antitrust hurdle.
GCL, Shell plan China LNG trading JV
GCL Oil & Natural Gas has entered into a framework deal with the Hague-based energy giant Shell to market and trade liquefied natural gas in eastern China. Under the deal, the privately-owned Chinese company and Shell will look into setting up a joint venture in eastern China. The proposed venture w
Boskalis Refinances Its Current RCF
Royal Boskalis Westminster N.V. (Boskalis) has refinanced its revolving credit facility (RCF) providing the company with EUR 500 million committed bank financing until April 2025. The new facility was coordinated by ING Bank and is provided by a syndicate of seven banks (ABN AMRO Bank, BNP Paribas,
Atlantis execs take pay cut but tidal business stays safe
SIMEC Atlantis said that COVID-19 pandemic has had minimal disruption to its tidal business as it furloughs employees on other projects and implements cost saving measures to maintain liquidity. MeyGen in Scotland continues to export power reliably to the grid. In March this year, MeyGen delivered 2
Motive adds new Rentals Division manager
Motive Offshore Group has recently appointed David Leith as Rentals Division manager. Motive’s Rental Division has seen a good start to 2020 as it focuses on the specialised rental of high capacity winches, umbilical deployment and subsea equipment. Discussing 2020 results so far, David Leith said:
LNG Limited loses Singaporean takeover deal
Singapore-based private company LNG-9 has withdrawn from a deal to buy the Australian-listed export project developer LNG Limited. The two companies announced the all-cash takeover bid at the end of February under which LNG Limited shareholders would have received $0.13 in cash per share. However, i
Manor settles at Siemens Gamesa’s Hull facility
Manor Renewable Energy has established an operational hub at Siemens Gamesa’s manufacturing and port facility in Hull, the UK. Manor said its new offices and presence on the Siemens Gamesa 450,000m2 site means the business is geographically closer to its offshore wind customers. “The Siemens Gamesa
Saudi Ports Global inks $1.87 billion deal for King Abdulaziz Port
Saudi Global Ports, one of PSA International’s subsidiaries, and Saudi Ports Authority (Mawani) signed a build, operate and transfer deal for the first and second container terminals in the King Abdulaziz Port in Dammam. The SAR 7 billion (USD 1.87 billion) deal makes SGP the sole container terminal
Hopper Dredge Ellis Island Refueled and Ready for Action
Because of the bad weather, construction works on the Phase II of the Post Florence Renourishment Project were briefly paused last Sunday, according to the Carteret County Shore Protection Office. As reported, the hopper dredge Ellis Island went into safe harbor to avoid the rough seas and took this